17th Mar 2016 11:06
LONDON (Alliance News) - Kenyan plantation company Kakuzi Ltd on Thursday posted higher pretax profit in 2015 as sales increased.
The company said its pretax profit for the year to the end of December was KES764.4 million, up from KES232.8 million a year earlier. The profit translates to around GBP5.3 million for 2015, compared to GBP1.6 million for 2014, based on current exchange rates.
Revenue rose to KES2.5 billion, or GBP17.1 million, from KES1.7 billion, or GBP11.7 million, as the group benefited from good demand for is main products.
Avocados performed very well in the year, but tea and forestry sales were also robust. The company also engages in livestock farming and grows pineapples and macadamia nuts.
The numbers also got a translation benefit from the weakened Kenyan shilling.
Kakuzi shares were untraded on Thursday, having last traded at 30.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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